Settlement offer from Collection Agency
Any suggestions/comments are appreciated.
I just got a letter in the mail from American Express to settle an old credit card debt I have with them. It is about $920 balance owed. They offer me to pay only 40% of it so about $370.
Within the letter it stated that "Althought we may continue to contact you in order to collect the balance due on your account, the time for us to do so by way of legal action against you has expired."
1. Should I even bother to pay them?
2. Will it get remove from my credit report?
If I should pay
1.